Forex: EUR/USD back above 1.2700

FXstreet.com (Barcelona) - The single currency is gathering pace above the key level of 1.2700, following German finmin W.Schauble’s comments, regurgitating the idea of one-time payment to Greece, although he insists in the need of a control mechanism on payouts.

No further data or results are expected in the US, as the market participants await for the Monthly Budget Statement figures, followed by a speech by FOMC’s J.Yellen.

At the moment, the cross is up 0.04% at 1.2715 facing the next resistance at 1.2739 (high Nov.12) ahead of 1.2791 (high Nov.9) then 1.2798 (MA10d) and finally 1.2800 (psychological level).
On the downside, support levels lie at 1.2662 (low Nov.13) en route to 1.2627 (low Sep.7) then 1.2607 (50% of 1.2042-1.3173) and 1.2600 (psychological level).

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